SpaceX Closes $40 Billion in GPU Debt Financing

SpaceX has closed $40 billion in debt financing to buy graphics processing units, Elon Musk said October 25, describing the borrowing as primarily callable debt for GPUs expected to arrive in the first and second quarters. Musk said SpaceX’s investment-grade status and revenue from Starlink and launch services helped it secure the financing. He also said lending had largely dried up for companies whose revenue depends on AI data centers. That characterization and the details of the financing came from Musk’s statements; the announcement did not identify lenders, interest rates, repayment terms or the financing structure. The company’s October results reported $39.995 billion in AI capital spending through September, equal to 83.2% of its total capital expenditure over those nine months. That spending figure is close to the newly announced financing amount, but it does not establish that the debt corresponds to a specific chip order. SpaceX reported 1.7 gigawatts of installed GPU nameplate capacity as of September 30, up from 1.4 gigawatts in June. The company defines nameplate capacity by installed GPUs and their power ratings; the measure excludes cooling and does not...